Tata Chemicals on Friday reported a 31.82 per cent surge in consolidated net profit at Rs 343.02 crore in the fourth quarter of 2016-17 fiscal even as income remained down. Its net profit stood at Rs 260.21 crore in the year-ago period, the company said in a BSE filing.

Total income declined to Rs 3,079.47 crore in the January-March quarter of the 2016-17 fiscal from Rs 3,618.14 crore in the year-ago period.However, expenses remained lower at Rs 2,733.96 crore as compared to Rs 3,310.56 crore in the said period.

For the FY 2016-17, net profit rose to Rs 1,234.10 crore from Rs 1,001.11 crore in the previous fiscal. The board has recommended a dividend of Rs 11 per ordinary share of Rs 10 each for the 2016-17 fiscal, subject to the approval of the shareholders at the ensuing annual general meeting of the company. The dividend, if approved, will be paid on and from August 11, 2017.

Tata Chemicals, a Tata group company, is engaged in manufacturing of chemicals, salt and fertilisers. It also sells pulses and spices under Tata Sampann brand. The firm is also into water purifier business.